(3 cr.) This course is the first of three intermediate
level courses. Students study the conceptual
framework, standards, roles of standard-setting
bodies and presentation of financial statements.
Additional topics include the recognition,
measurement and reporting of cash, receivables,
and inventories. In addition to U.S. Generally
Accepted Accounting Principles (GAAP) students
also are exposed to International Financial
Reporting Standards (IFRS). Minimum grade for
accounting majors B-. Accounting majors must have
B- or better in the prerequisite course.
Prerequisite: AC 101 or AC 211; Every Year, Fall and Spring